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CQS Suite for Credit Risk Management |
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First Fidelity Bank Expands its Credit Risk Management Capabilities with DiCom Software CQS Suite
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Orlando, Fla., July 10, 2007 --- DiCom Software, a leading provider of credit risk management technology solutions for financial institutions, announced today that First Fidelity Bank in Oklahoma City, Oklahoma, has licensed two key applications in its Credit Quality Solution (CQS) suite: LRS Enterprise and Portfolio Analysis.
First Fidelity has been using DiCom's LRS Lite loan review application, which is designed for smaller banks. Due to strong growth, however, the institution decided to upgrade to LRS Enterprise, DiCom's robust loan review solution for large institutions. According to First Fidelity's Chief Credit Officer Jim Karcher, the bank has grown from $500 million to more than $1 billion in assets and needed more sophisticated tools and capabilities to handle the bank's expanding loan portfolio and manage credit risk more effectively.
“During the past year, we determined that it was important to upgrade our loan review capabilities to meet the demands being placed upon our staff as a result of the loan growth we've experienced over the last five years,” Karcher said. “We upgraded to DiCom's LRS Enterprise solution in order to increase the number of reviews we could complete annually, and improve the accuracy of those reviews.”
First Fidelity is also adding DiCom's Portfolio Analysis solution to enable the bank to implement risk pool-based strategies to evaluate potential areas of risk more easily.
“The addition of DiCom's Portfolio Analysis system will provide us with a versatile, yet simplified solution to analyze our portfolio by bank-defined concentrations such as adversely graded loans, past dues and risk grade distributions, allowing managers to analyze trends over time,” said Karcher. “It will also enable our credit administration team to customize and create reports on demand by location, loan type, etc. We are confident these two systems will further strengthen First Fidelity's asset quality and reduce credit risk across the entire organization.”
About First Fidelity Bank
First Fidelity is a $1.1 billion banking organization with 27 locations throughout Oklahoma and Arizona with three additional locations under construction. The most recent expansion was in Phoenix, Arizona, where a full-service office was opened in April 2006. In June of 2007, the bank completed its acquisition of Scottsdale-based Western Security Bank, which significantly increased our presence in the Arizona market. First Fidelity has grown from $120 million to more than $1.1 billion in total assets in the last 16 years, becoming the third largest bank based in the Oklahoma City area. The Company's principal focus is providing to businesses and consumers financial products and services including loans and deposits, treasury management services, and banking services.
About DiCom Software
DiCom Software is a leading provider of credit risk management technology solutions for financial institutions nationwide. The company’s product suite, DiCom Credit Quality Solution (CQS), delivers tools to efficiently analyze, review and manage loan portfolios while minimizing risk. DiCom’s solutions are in use today in banks from $500 million to more than $100 billion in assets. For more information, visit www.dicomsoftware.com.
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Last Updated on Tuesday, 09 August 2011 19:47 |
